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The Liberalised Remittance Scheme (LRS), introduced by the Reserve Bank of India (RBI), is designed to facilitate Indian residents to remit funds abroad for various purposes. This scheme, launched as part of India's financial liberalization measures, allows resident individuals to remit up to USD 250,000 per financial year (April to March) for a range of [...]

Tax Deducted at Source (TDS) is a taxation method wherein a specified percentage of tax is deducted from the income at the time of payment. Governed by the Income Tax Act, 1961, and monitored by the Central Board of Direct Taxes (CBDT), TDS applies to various income types, such as salaries, interest, rent, and commissions. [...]

Section 197 of the Income Tax Act, 1961, offers taxpayers the facility to request NIL deduction of tax at source or deduction at a lower rate of tax. To avail of this benefit, an assessee expecting TDS deductions on certain receipts must submit an application to the TDS Assessing Officer with jurisdiction over their case. [...]

As global movement increases and more Indians work overseas, the taxation rules for Non-Resident Indians (NRIs) have become increasingly complex. If you're an NRI or planning to become one, it’s essential to understand how taxation works in both India and your country of residence. This guide provides an in-depth look at the tax implications for [...]